Monzo to appoint former Northern Rock veteran as chairman

British fintech unicorn Monzo is set to appoint financial market veteran Gary Hoffman as its chairman, a source close to the bank told media.

Hoffman, who has held executive roles at Barclays and is currently non-executive chairman of insurer Hastings and lender Coventry Building Society, will replace Denise Kingsmill.

Hoffman, best known for managing nationalised lender Northern Rock for two years after its collapse in the financial crisis, will be named non-executive chairman of Monzo on Wednesday, the source added.

Monzo’s comment is awaited.

Exclusive: Monzo, the British digital bank which recently achieved unicorn status, will tomorrow name Gary Hoffman, the former Northern Rock chief executive, as its new chairman with a mandate to steer the company towards an eventual IPO. https://t.co/sou8VGH1kd